Brexit news

Supreme Court to rule on parliament suspension

Boris Johnson illegally suspended parliament because he saw it as an obstacle to his Brexit plans, the Supreme Court was told today as it met to decide whether the Prime Minister had unlawfully sought to by-pass lawmakers.

On the 28th August PM Johnson announced that he had asked the Queen to prorogue parliament for five weeks until October 14th. He said that the shutdown was necessary to allow him to introduce a new legislative agenda. When asked on Friday whether he had misled the queen Johnson said, “absolutely not”.

Opponents of Boris said the real reason was to prevent scrutiny and challenges by parliament to his Brexit plans, especially his promise to leave the EU by the 31st October even without a divorce deal in place.

The opposition wants the Supreme court to rule the actions of the PM to be illegal and critics, say he should resign if that is its decision. In a shock judgement last Wednesday, Scotland’s highest court said the suspension was an unlawful attempt to stymie parliament. However, a week earlier the High Court of England and Wales rejected a similar case, saying the matter was political and not something judges should interfere in.

The Supreme Court is hearing two appeals to determine whether the PM acted lawfully in suspending Parliament and eleven Supreme Court justices are sitting for three days. If ruled in the oppositions favour, we could see parliament back to work by the end of the week.

Whilst political uncertainty is still the main driving force behind the value of the Pound, we could see the markets volatile with any breaking news having an impact on the Pound. If ruled against Johnson, we could see the Pound strengthen as it decreases the chance of a no deal Brexit dramatically. At the time of writing GBP/EUR and GBP/USD was in the mid 1.12’s and mid 1.24’s respectively.

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